Brief: Remitly Global Q2 Revenue USD 411.852 Million Vs. IBES Estimate USD 384.6 Million

Remitly Global

06/08/2025 21:05

Overview

Remitly Q2 revenue up 34% yr/yr, beating analyst expectations, per LSEG data

Adjusted EBITDA for Q2 beats consensus, rising 144% yr/yr, per LSEG data

Co announces $200 mln share repurchase program

Outlook

Remitly expects FY 2025 revenue between $1.61 bln and $1.62 bln

Company projects FY 2025 Adjusted EBITDA of $225 mln to $230 mln

Remitly forecasts Q3 2025 revenue between $411 mln and $413 mln

Company anticipates positive GAAP net income for FY 2025

Result Drivers

SEND VOLUME GROWTH - Send volume increased by 40% year-over-year to $18.5 bln, driving revenue growth

CUSTOMER BASE EXPANSION - Active customers rose 24% to 8.5 mln, contributing to increased revenue

PROFITABILITY TURNAROUND - Achieved net income of $6.5 mln, compared to a net loss in the previous year

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$411.85 mln
$384.60 mln (7 Analysts)
Q2 Net Income
$6.54 mln
Q2 Adjusted EBITDA
Beat
$64 mln
$46.50 mln (6 Analysts)
Q2 Operating Income
$14.64 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the business support services peer group is "buy"

Wall Street's median 12-month price target for Remitly Global Inc is $27.07, about 39.7% above its August 5 closing price of $16.33

The stock recently traded at 90 times the next 12-month earnings vs. a P/E of 174 three months ago

Press Release: ID:nGNX8zgzB9

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)